The current round was led by a new investor, Battery Ventures, with continued support from Adams Street Partners, which led Q2’s first two financing rounds. The company has revealed plans to use the capital to expand Q2’s sales and marketing efforts, as well as invest in continued platform innovation.
The company provides ebanking technology for almost 400 financial institutions, reaching over 3 million online users. Q2 is able to detect and flag potentially fraudulent transactions while updating its algorithms of its platform. The company’s security suite also includes out-of-band transaction authentication, security alerts, multi-factor authentication (MFA) and VeriSign tokens to protect both consumer and commercial transactions.
In recent news, Q2 has been selected by US-based Dexter Credit Union for its suite of electronic banking services, in order to upgrade the level of services it provides to retail and business members.
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